Jonathan submits expenditure proposal to Senate

President Goodluck Jonathan on Tuesday submitted the 2014-2016 Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) to the Senate for consideration and approval.

The MTEF/FSP was read by Senate President, David Mark.

Jonathan in the letter to the Senate noted that the submission of the MTEF and FSP was in line with the provisions of the Fiscal Responsibility Act, 2007.

He added that the development towards the preparation of the 2014 budget culminated in the 2014-2016 MTEF and FSP.

Jonathan said: “Prepared against the backdrop of global economic uncertainty, the 2014-2016 MTEF and FSP reflect the reality of our circumstance; and we will ensure that planned spending is set at prudent and sustainable levels consistent with Government’s overall medium-term developmental objectives.”

He lauded the Senate for the enduring partnership between the legislative and executive arms of government “in our collective efforts to transform the economy of our dear country.”